EA Sports have posted an update on their NBA Facebook page, thanking everyone who is still playing NBA Live and providing a reminder about the continuing DNA and roster updates for NBA Live 10:

Thanks to all our fans that continue to play NBA LIVE. We are continuing Dynamic DNA and roster updates, including the recent trades by EA SPORTS hometown team, Orlando Magic. Happy Holidays!

Outside of a couple of lineup inaccuracies and incorrect primary positions, the rosters are indeed up to date with the latest trades. You'll also find a few players currently assigned to D-League affiliates in the Free Agent pool rather than the injured reserve of their NBA teams. Speaking of injuries, players are not flagged as injured in the updates so you can easily reorder rosters when starting a new Dynasty or setting up an online game.